Resources, A OneDigital Company, Acquires Montgomery Retirement Plan Advisors
Acquisition is the 17th Transaction in 2020 as OneDigital Accelerates Expansion into Retirement and Wealth Management
ATLANTA, GA – July 16, 2020 – Resources Investment Advisors, A OneDigital Company, the nation’s leading investment advisory firm, has acquired Montgomery Retirement Plan Advisors headquartered in Tampa, FL. This acquisition comes quickly after OneDigital acquired Resources Investment Advisors and 17 other advisory practices across the U.S. to expand into the retirement and wealth management vertical earlier in 2020.
Founded in 2004, Montgomery Retirement Plan Advisors (MRPA) is an independent, fee-based consulting firm dedicated exclusively to employer-sponsored retirement plans. MRPA serves corporate 401(k) clients, has developed a strong presence in the government defined contribution plans arena and currently manages over $2 Billion in assets. In addition to MRPA, the transaction includes sister company Fidelis Fiduciary Management, led by co-founder and president, David Montgomery.
“Montgomery Retirement Plan Advisors is a strong addition to Resources and OneDigital. We are excited to welcome them as the latest addition to our growing national retirement and wealth division,” said Vince Morris, President of Retirement and Wealth at OneDigital. “We’ve known Mike and his team for a long time and appreciate their company culture and their ability to offer 3(38) investment fiduciary services in support of any advisor handling retirement plans. I look forward to working closely with them to advance our growing retirement and wealth division and offering strategic business consulting to employers.”
“We are excited to join Resources and the OneDigital family and look forward to leveraging national resources, expertise and collaborating with many of the industry’s leading retirement plan advisors already on board,” said W. Michael Montgomery, managing principal at Montgomery Retirement Plan Advisors. “The scale of the organization and access to new technology will allow us to serve our clients now better than ever.”
MRPA joins seven existing OneDigital employee benefits and retirement teams in Florida and marks the 18th retirement practice acquired in 2020. Resources, A OneDigital Company, now provides advisory services to over 3,000 retirement plans covering 600,000 plus employees with over $50 billion of assets.
M&A consulting firm Wise Rhino Group represented MRPA in the transaction.
OneDigital is the nation’s leading strategic advisory firm, and the first employee benefits and retirement-only broker in the small and medium-sized business space. Through a holistic combination of health and benefits advising, workforce & HR consulting and retirement & wealth solutions, OneDigital’s deeply experienced advisors offer a fresh thinking and strategic perspective that will unlock workplace potential and drive business results. Headquartered in Atlanta, OneDigital's more than 100 offices and 2,000 business strategists serve the needs of over 50,000 employers across the nation. OneDigital has been named to the Inc. 5000 List of America’s fastest-growing companies every year since 2007, one of only 12 companies to do so. Currently listed as 18th on Business Insurance’s list of 100 Largest U.S. Brokers, OneDigital’s deep analytic abilities and experienced advisors deliver insights that reduce business risk and improve plan design and performance.
About Montgomery Retirement Plan Advisors
Montgomery Retirement Plan Advisors is an independent, fee-based consulting firm in Tampa, Florida, dedicated exclusively to employer sponsored retirement plans. MRPA’s mission is to deliver carefully tailored fiduciary guidance based on a thorough understanding of each client’s unique objectives. MRPA serves as an ERISA investment fiduciary and help empower those responsible for managing their organization’s retirement programs to elevate plan governance, inspire a generational impact on employees, and optimize retirement plan programs. Investment advice provided by Resources Investment Advisors, LLC, an SEC-registered investment adviser and subsidiary of OneDigital.
About Fidelis Fiduciary Management
A sister company of Montgomery Retirement Plan Advisors, Fidelis Fiduciary Management provides outsourced ERISA 3(21) or 3(38) investment fiduciary support services to plan sponsors in partnership with non-fiduciary plan consultants, advisors and record-keepers. As an independent provider of investment fiduciary management services, Fidelis provides conflict-free, customized investment menus directly and a high-touch experience for plan sponsors. Fidelis Fiduciary Management has received certification from the Centre for Fiduciary Excellence [CEFEX] for over ten consecutive years with specific certification for ERISA 3(38) fiduciary services.